The Queen's Health Systems 401(k) Review & Grade
The Queen's Health Systems Retirement Savings Plan
Honolulu, HIHealth Care & Social Assistance9,181 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,479Employer $ per active participant
$9,525Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$2.0BNet plan assets, end of year
$166,568Average balance per account
Score breakdown
- Employer generosity46.8 / 5094th percentile for employer $ per participant
- Low cost15.7 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving14.2 / 1595th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 63th |
| Employee saving | 95th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $85,523 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Queen's Health Systems put in about $5,479 per active participant, more than the typical peer ($800). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $50,302,076 |
| Participant (employee) contributions | $87,444,682 |
| Other contributions (incl. rollovers in) | $24,580,792 |
| Administrative expenses paid from the plan | $1,488,267 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $892,408 |
| Other admin expenses | $137,589 |
| Benefits paid out | $110,908,274 |
| Net assets, start / end of year | $1.6B / $2.0B |
| Active participants, start / end of year | 9,096 / 9,266 |
| Participants with account balances | 11,719 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Kkdly LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $687,356 reported compensation |
| Strategic Advisors, Inc. | $671,342 reported compensation |
| Global Retirement Partners | $92,700 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014150026NAL0004323024001, received 2025-10-14, EIN 99-0238120, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.